Congratulations, your offer has been accepted! Here's a general look at what tends to happen next, though the exact steps and timeline can vary by transaction and contract terms.
Earnest money
Buyers typically submit earnest money shortly after the contract is signed. This deposit is generally held in escrow and applied toward your purchase at closing, subject to the terms of your contract.
Inspections
Most buyers schedule a general home inspection, and sometimes additional specialized inspections, within a set window defined in the contract.
Negotiating repairs
Depending on what the inspection finds, buyers and sellers may negotiate repairs, credits, or simply proceed as-is. This is a normal part of many transactions.
Appraisal
If you're financing your purchase, your lender will typically order an appraisal to confirm the home's value supports the loan amount.
Final loan approval
Your lender will continue processing your loan file, which may include additional documentation requests as you approach closing.
Final walkthrough and closing
Most buyers complete a final walkthrough shortly before closing to confirm the home's condition, followed by signing closing documents and receiving the keys.